Automotive World has published a new forecast report on Russia’s new vehicle market. Russia’s New Vehicle Market: Prospects To 2017 outlines the prospects of the country’s light vehicle and medium/heavy commercial vehicle sectors through to 2017.
The Russian light vehicle market plunged 50% to 1.5 million units in 2009. Some growth over the following three years saw it reach a new peak of 2.9 million units in 2012. Lada remains the Russian car market leader, although its market share fell in 2012 to below 20% for the first time in over a decade against intense competition from foreign brands.
Following a small decline in the early months of 2013, the Russian LV market is expected to return to growth in the latter part of the year. Beyond 2013, the market will be further boosted by rising levels of car ownership and the need to replace an ageing parc.
In Russia’s commercial vehicle (CV) sector, 80% of the truck parc is over ten years old. Demand has not yet returned to pre-downturn levels, although it recovered from the 2009 trough of 50,700 units, to reach 137,900 units in 2012. Russian truck OEMs occupy the top three places in terms of market share, but they are being squeezed from below by cheap Chinese imports and from above by the premium products of western OEMs.
Russia’s truck market is expected to be relatively subdued in 2013 as the market adjusts to the new emission standards as well as the import tariff and recycling levy changes. A small increase of less than 1% is anticipated before the market returns to higher growth rates in 2014 and 2015.
Automotive World has recently published a brand new report on Russia’s New Vehicle Market: Prospects To 2017. For more information or to obtain a copy of this report please click on the link below:
https://www.automotiveworld.com/research/russias-new-vehicle-market-prospects-to-2017/
This report is available free of charge to AutomotiveWorld.com Single User Site License, and Corporate Site License members. Members and Non members can access this report by clicking on the links provided above.
Automotive World will be hosting two webinars on Russia’s light vehicle and medium/heavy commercial vehicle markets on Wednesday 5th June 2013. Follow the links below for more details:
Russia’s light vehicle market – forecasts to 2017
Russia’s medium and heavy commercial vehicle market – forecasts to 2017
